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Select board backs warrant to authorize up to $600,000 sand-and-salt storage building
Summary
Article 38 would authorize construction of a sand-and-salt storage building not to exceed $600,000, appropriate $100,000 each from unassigned and capital building funds, and authorize borrowing up to $400,000 in general obligation notes; members discussed where to source the $100,000 capital-fund contribution.
Select board members described Article 38 at the March 31 meeting as a multi-part funding plan for a sand-and-salt storage building with a cap of $600,000.
The warrant language presented would appropriate $100,000 from the unassigned fund balance and $100,000 from the town’s capital building fund and authorize the treasurer, with select-board approval, to borrow up to $400,000 via general obligation bonds or notes to cover the remainder. The borrowing would be repaid over a term not to exceed five years with terms to be determined by the treasurer and select board.
Members noted that the $100,000 currently cited in the article is not yet in the capital building account; the board discussed whether the municipal building fund (about $11,100) could be transferred in advance to make that capital-fund balance available before the vote. Several members said such an inter-fund transfer could occur in an open meeting if legally permissible and recommended the board finalize fund-source fixes before the final vote.
No formal vote on Article 38 was recorded at the March 31 session; select board members directed staff to ensure the capital-fund source is clarified for the final reading and to prepare the article text for town meeting.
